Current Attempt in Progress A partial tabular summary for Howard Rental Agency on March 31 of...

    

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Current Attempt in Progress A partial tabular summary for Howard Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Assets Liabilities Stockholders' Equity Unearn. Acc. Depr.- Prepd Rent Int. Pay. + Notes Pay. Supplies + Insur. + Equip. - Equip. = Rev. Bal. 3,000 3,600 25,000 20,000 12,400 8,400 An analysis of the accounts shows the following. 1. The equipment depreciates $280 per month. 2. Half of the rental services related to unearned rent revenue was provided during the quarter. 3. Interest of $ 400 is accrued on the notes payable. 4. Supplies on hand total $ 850. 5. Insurance expires at the rate of $ 400 per month. + Com. Stock + Retained Earnings Rev. - Exp. Div Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Acc. Depr.- Equip. Supplies Prepaid Insurance Equip. Bal. 25,000 1. 2. 3. 4. 5. Toxthook and Modia 3,000 + 3,600 - 8,400 in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities + Com. Int. Unearn. Rent Rev. Notes Pay. + Stock Pay. + + 0 eTextbook and Media 20,000 12,400 Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Exp. Div Supplies Expense Depreciation Expense Rent Revenue Insurance Expense Utilities Expense Salaries & Wages Expense Interest Expense Rev. 000 eTextbook and Media Save for Later Current Attempt in Progress A partial tabular summary for Howard Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. Assets Liabilities Stockholders' Equity Unearn. Acc. Depr.- Prepd Rent Int. Pay. + Notes Pay. Supplies + Insur. + Equip. - Equip. = Rev. Bal. 3,000 3,600 25,000 20,000 12,400 8,400 An analysis of the accounts shows the following. 1. The equipment depreciates $280 per month. 2. Half of the rental services related to unearned rent revenue was provided during the quarter. 3. Interest of $ 400 is accrued on the notes payable. 4. Supplies on hand total $ 850. 5. Insurance expires at the rate of $ 400 per month. + Com. Stock + Retained Earnings Rev. - Exp. Div Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Acc. Depr.- Equip. Supplies Prepaid Insurance Equip. Bal. 25,000 1. 2. 3. 4. 5. Toxthook and Modia 3,000 + 3,600 - 8,400 in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities + Com. Int. Unearn. Rent Rev. Notes Pay. + Stock Pay. + + 0 eTextbook and Media 20,000 12,400 Prepare a tabular summary to record adjustments at March 31, assuming that adjustments are made quarterly. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Retained Earnings Exp. Div Supplies Expense Depreciation Expense Rent Revenue Insurance Expense Utilities Expense Salaries & Wages Expense Interest Expense Rev. 000 eTextbook and Media Save for Later

Answer rating: 100% (QA)

1 2 3 4 5 1 2 3 4 5 Supplies 3000 2150 850 Prepaid Insurance 3600 12... View the full answer